比特幣（BTC/USD）飆升22％作為公司國庫，主權實體進入競技場

比特幣（BTC/USD）在過去一個月中飆升了22％，根據比特幣金融服務公司Swan的說法，這不僅僅是另一個集會

Bitcoin BTC/USD has surged 22% over the past month, and according to Bitcoin financial services firm Swan, this isn't just another rally, it marks the emergence of a new market structure.

比特幣BTC/USD在過去一個月中飆升了22％，根據比特幣金融服務公司Swan的說法，這不僅僅是另一個集會，它標誌著新市場結構的出現。

In an X post on Friday, May 12, Swan highlighted that the current move is fueled by a new class of buyers: corporate treasuries, sovereign entities and capital-constrained institutions.

在5月12日（星期五）的X帖子中，天鵝強調說，當前的舉動是由新的買家提供的：公司國庫，主權實體和資本約束機構。

"We’re not seeing Bitcoin bought to ‘get rich’ anymore. Now it’s being bought to protect wealth," the firm stated.

該公司說：“我們不再看到比特幣再也買了'賺錢了。現在它被購買以保護財富。”

This narrative shift from speculation to sovereignty is crucial, as it lays the foundation for a more durable price floor, underpinned by corporate, governmental,and family-office accumulation.

從猜測到主權的這種敘事轉變至關重要，因為它為更耐用的價格奠定了基礎，這是公司，政府和敘利序積累的基礎。

While the S&P 500 and Nasdaq posted monthly gains of 8% and 11%, respectively, Bitcoin's outperformance and rising divergence suggest a decoupling is underway, a major milestone for the asset.

雖然標準普爾500指數和納斯達克的月收益分別為8％和11％，但比特幣的表現和差異不斷增長表明正在進行脫鉤，這是該資產的主要里程碑。

Favorable macro conditions like rising liquidity, a more cautious Fed, easing trade tensions, and pro-growth rhetoric from Trump are providing additional tailwinds.

有利的宏觀條件，例如流動性上升，更謹慎的美聯儲，緩解貿易緊張局勢以及來自特朗普的增長言論正在提供更多的方風。

On-chain data supports this trend: According to BitInfoCharts, the number of addresses holding 100 to 1,000 BTC grew from 15,913 to 16,054 since April 13, pointing to steady mid-level accumulation.

鏈上的數據支持這一趨勢：根據Bitinfocharts的說法，自4月13日以來，持有100到1,000 BTC的地址從15,913增至16,054，這表明中級積累穩定。

See Related: Best Cryptocurrency Scanners

參見相關：最佳加密貨幣掃描儀

What Happened: Companies like Strive, 21Shares and BTC Inc are actively preparing acquisition vehicles. Strategy MSTR is now said to have $84 billion in shelf registration capacity to tap markets creatively.

發生的事情是：像競爭，21shares和BTC Inc這樣的公司正在積極準備採購工具。現在據說MSTR戰略具有840億美元的貨架註冊能力來創造性地利用市場。

"We’re also seeing signs of sovereign entities entering the scene quietly," Swan added.

斯旺補充說：“我們還看到了主權實體悄悄進入現場的跡象。”

Shifts in government policy, such as New Hampshire exploring Bitcoin reserves and Spain capping cash withdrawals, underscore the changing global financial landscape.

政府政策的轉變，例如新罕布什爾州探索比特幣儲備金和西班牙限制現金提取的情況，這強調了全球金融格局的變化。

"The stage is set for a new chapter in the Bitcoin story, one that could see the world’s most valuable cryptocurrency reach even greater heights," the firm concluded.

該公司總結說：“該階段是在比特幣故事中的新章節的階段，可以看到世界上最有價值的加密貨幣達到更高的高度。”

🚨Decoding Bitcoin's New Market Structure

🚨編碼比特幣的新市場結構

As the dust settles on Q2 2024, it's clear that a new stage in Bitcoin's journey is unfolding. We're tracking a shift in the fabric of the market, weaving together macro trends, on-chain data, and the actions of key players.

隨著塵埃落定在第二季度2024年，很明顯，比特幣旅程中的新舞台正在展開。我們正在跟踪市場結構的轉變，將宏觀趨勢，鍊鍊數據和主要參與者的行為編織在一起。

As we dove deeper, we realized that the narrative around Bitcoin accumulation is changing. We're not seeing Bitcoin bought to "get rich" anymore. Now it's being bought to protect wealth.

隨著我們更加深入，我們意識到圍繞比特幣積累的敘事正在發生變化。我們不再看到比特幣再為“致富”了。現在正在購買以保護財富。

This might seem like a subtle difference, but it has massive implications for the price floor and the sustainability of any price declines.

這似乎是一個微妙的差異，但它對價格平台和任何價格下降的可持續性具有巨大的影響。

Earlier this year, we highlighted how family offices and private investment firms are increasingly turning to Bitcoin as an inflation hedge and a store of value. We're also seeing major corporations integrate Bitcoin onto their balance sheets, a move unthinkable just a few years ago.

今年早些時候，我們強調了家庭辦事處和私人投資公司如何越來越多地轉向比特幣作為通貨膨脹對沖和價值存儲。我們還看到大型公司將比特幣整合到資產負債表上，這一舉動是幾年前無法想像的。

Now, we can add another layer to this story: corporate treasuries and sovereign entities are joining the party, enticed by the promise of an asset class that operates independently of traditional financial institutions.

現在，我們可以在這個故事中添加另一層：公司國庫和主權實體正在加入該黨，這是由獨立於傳統金融機構獨立運作的資產類別的承諾所吸引的。

Companies like Strive, 21Shares and BTC Inc are preparing acquisition vehicles, while Strategy MSTR is said to have $84 billion in shelf registration capacity to tap markets creatively.

像Strive，21 Shares和BTC Inc這樣的公司正在準備收購工具，而戰略MSTR據說具有840億美元的貨架註冊能力，可以創造性地利用市場。

And as always, the actions of key players speak louder than words. We're keeping a close eye on a few sovereign entities who are making quiet moves in the Bitcoin space.

與往常一樣，主要參與者的行動勝於雄辯。我們會密切關註一些在比特幣空間中進行安靜動作的主權實體。

Finally, we can't ignore the macroeconomic backdrop. Rising liquidity, a more cautious Fed, easing trade tensions, and pro-growth rhetoric from Trump are providing tailwinds for Bitcoin's price.

最後，我們不能忽略宏觀經濟的背景。不斷上升的流動性，更謹慎的美聯儲，緩解貿易緊張局勢以及特朗普的促成言論正在以比特幣的價格提供逆風。

On April 13, the number of addresses holding 100 to 1,000 BTC was 15,913. As of May 11, that number rose to 16,054. This mid-level accumulation is a trend we'll continue to monitor closely.

4月13日，持有100至1,000 BTC的地址為15,913。截至5月11日，這個數字上升到16,054。這種中層積累是我們將繼續密切監視的趨勢。

As the dust settles on Q2 2024, we're left with a few key takeaways:

當塵埃落定在第二季度2024年時，我們還有一些關鍵要點：

- The S&P 500 and Nasdaq rose 8% and 11% in April, but Bitcoin's outperformance and rising divergence suggest a decoupling is underway, a major milestone for the asset.

- 標準普爾500指數和納斯達克股在4月上漲了8％和11％，但比特幣的表現和差異上升表明正在進行分離，這是該資產的主要里程碑。

- We're seeing a new class of buyers enter the market, including corporate treasuries, sovereign entities and capital-constrained institutions.

- 我們看到一類新的買家進入市場，包括公司國庫，主權實體和資本約束機構。

- This shift in buyers, narrative and the macroeconomic trends lay the foundation for a more durable price floor, underpinned by corporate, governmental,and family-office accumulation.

- 買家，敘事和宏觀經濟趨勢的這種轉變為更耐用的價格樓層奠定了基礎，這是公司，政府和家庭辦公室積累的基礎。

Stay tuned for more updates as we continue to track this evolving story.

隨著我們繼續跟踪這個不斷發展的故事，請繼續關注更多更新。

We invite you to join our email list for exclusive insights and analysis.

我們邀請您加入我們的電子郵件列表以進行獨家見解和分析。

.

。

.

。

#bitcoin #btc #cryptocurrency #crypto